Deco Capital Secures $60 Million Construction Loan For Eighteen Sunset In Sunset Harbour — PROFILE Miami
Deco Capital Group has secured $60 million in construction financing from City National Bank of Florida for Eighteen Sunset in Miami Beach’s hot Sunset Harbour neighborhood. The loan will fund the ongoing development of the newest mixed-use project combining office, retail, and residential uses. Eighteen Sunset broke ground in November 2021 and is expected to be completed in late 2023.
Eighteen Sunset will feature street-level retail and restaurant space, two floors of Class A+ offices totaling 40,000 square feet, and an exclusive top-floor penthouse featuring more than 15,000 square feet of interior space as well as a breathtaking rooftop pool deck. All told, the penthouse residence comprises approximately 30,000 square feet of private indoor and outdoor space, outdoor dining room, expansive gardens, seating and recreational areas affording the owner and their guests panoramic vistas of Biscayne Bay, Downtown Miami, and evening sunsets to the west.
“We’ve seen significant interest from some of the most desirable and prosperous buyers and tenants in the country, who are looking at Eighteen Sunset from both a residential perspective and as a ‘live-work’ opportunity in the heart of one of South Florida’s most desirable districts,” said Deco Capital Group Founder Bradley Colmer. “The level and quality of demand we’re seeing in Miami Beach is as strong as it’s ever been and we are already talking with some of the most exciting businesses and retailers in the market. Now that Eighteen Sunset is coming out of the ground and our financing is in place, we expect the building to be filled in short order.”
Situated between Purdy Avenue and Bay Road, overlooking Biscayne Bay and Maurice Gibb Park, Eighteen Sunset will offer unmatched walkability and accessibility in the heart of Sunset Harbour, which has emerged as one of South Florida’s hottest lifestyle, retail, fitness, and dining destinations.
The penthouse is listed with Oren Alexander of Douglas Elliman, the retail leasing is overseen by Sara Wolfe of Koniver Stern and Stephen Rutchik of Colliers International is overseeing the office leasing.
